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That second one is a bit... unclear. I think it's the 18th century grammar and its propensity for a dozen clauses. However, it seems to contradict the general
by da_chicken 9y ago
That second one is a bit... unclear. I think it's the 18th century grammar and its propensity for a dozen clauses. However, it seems to contradict the generally held belief that the poor have a much higher marginal propensity to consume than the rich do.
- ianai 9y agoNo, he’s saying exactly that they (the non-rich) have both a higher marginal propensity to consume and thus the wealth of a nation grows much faster with their income growth. But undoubtedly, he nestled it in crazy grammar.
- da_chicken 9y agoI'll take your word for it. I keep getting turned around in the middle!
- ianai 9y agoHe’s using the word “they” confusingly there. It’s clear from the rest of the book that he means the wealth of nations follows the wealth of the non-rich.
- da_chicken 9y agoRight, that's why I was so confused. I know the jist of Smith's work and this kept tripping me up.